14
Sep
The Central Bank of Nigeria (CBN) has debunked claims that it would crash the exchange rate to N1.25/$1. Reports had circulated online claiming that the apex bank would “introduce a new naira policy by November 2023” which would see the foreign exchange rate to be $1=N1.25. Debunking the news via a tweet on X-app, the apex bank attached screenshots of the report tagged “fake news” and noted that “the attached message currently circulating on social media is false and should be disregarded.” Foreign Exchange Rate Reforms The Central Bank of Nigeria had implemented various policies since President Bola Tinubu was…